Posted on 05/21/2024 10:42:19 AM PDT by BradtotheBone
WASHINGTON (AP) — The Biden administration said Tuesday that it is releasing 1 million barrels of gasoline from a Northeast reserve established after Superstorm Sandy in a bid to lower prices at the pump this summer.
The sale, from storage sites in New Jersey and Maine, will be allocated in increments of 100,000 barrels at a time. The approach will create a competitive bidding process that ensures gasoline can flow into local retailers ahead of the July 4 holiday and sold at competitive prices, the Energy Department said. The move is intended to help “lower costs for American families and consumers,″ the department said in a statement.
Gas prices average about $3.60 per gallon nationwide as of Tuesday, up 6 cents from a year ago, according to AAA. Tapping gasoline reserves is one of the few actions a president can take by himself to try to control inflation, an election year liability for the party in control of the White House.
“The Biden-Harris administration is laser-focused on lowering prices at the pump for American families, especially as drivers hit the road for summer driving season,″ Energy Secretary Jennifer Granholm said in the statement. “By strategically releasing this reserve in between Memorial Day and July 4th, we are ensuring sufficient supply flows to the tri-state (area) and Northeast at a time hardworking Americans need it the most.”
White House Press Secretary Karine Jean-Pierre said release of gas from the Northeast reserve builds on actions by President Joe Biden, a Democrat, “to lower gas and energy costs — including historic releases from the Strategic Petroleum Reserve and the largest-ever investment in clean energy.″
(Excerpt) Read more at yahoo.com ...
Blatantly using government resources for election purposes.
It ain’t gonna work.
“The Biden-Harris administration is laser-focused on lowering prices at the pump”
Bull-effing-sh*t.
Do we have a “grocery reserve” he can plunder while he ‘s at it?
How long does the gas sit in storage? Is it ethanol-free gas or is the kind that turns to corn syrup if it sits too long?
Would a million barrels have a significant effect on prices?
The more he flails, the more Democrats abandon him.
This county uses Millions of barrels every day and 1 Million will not even make a small dent in anything.
That’s about 4000 truck loads, that won’t last long, maybe a day or 2.
But it will weaken us a tiny bit more. Which is the whole idea.
Stupid bastard.
America misses $1.80/gal, no inflation, wars, or border invasions.
Effect on unleaded gas futures? 2 CENTS.
Gasoline or crude? And, pretty sure a million gallons ain’t gonna last long. But, idiots!
Before long Trump will remind voters of $2/gal gas.
Nothing is off the table to help Biden get re-elected. Nothing.
He saw that New Hampshire poll and laid ANOTHER massive dump..no one is buying his BS anymore, he only does things to help HIMSELF not anyone else
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